You’ve put a lot of effort into making your e-commerce business a success and want to avoid a costly claim that could undo your investment. With the cost of litigation, medical care, and property repair so high, you need to take the risk of an accident or claim seriously. From product liability to fulfilling marketplace requirements, E-Commerce Insurance from AmTrust Financial helps you to protect your small business from these liabilities. No matter how big or small your e-commerce business is, whether you are shipping down the street or across the country, sellers have insurance requirements they need to meet in order to sell on popular online market sites. For the entire list of seller insurance requirements, review your online marketplace's selling insurance requirements.
What Coverage is Available for E-Commerce Businesses?
There are several policy options available to you as an Ecommerce business owner. The policy features and coverage amounts you'll need will largely depend on the size of your business and how you run your business. Generally, many of these small business owners opt to carry:
• General Liability
• Commercial Property
• Cyber Liability
General Liability Insurance for online businesses
General liability insurance is designed to cover costs related to legal claims brought against your e-commerce business by a third party. Without this coverage, your assets could be seized in order to meet the cost of a claim. Coverage typically includes attorney fees, court costs, and settlements and judgments that your business may be liable to pay.
Protect Your Property with Commercial Property Insurance
If you maintain product inventory in your personal residence, you should be aware that your homeowners or renters policy likely doesn’t provide sufficient coverage for these and other business-related items. Our commercial property coverage is designed to cover your inventory and provide you with peace of mind that your product is covered in the event of potential perils such as fire or theft.
Protection for Your Online Business with Cyber Liability Insurance
If you maintain your own e-commerce site or hold sensitive customer information, then cyber liability insurance is an important coverage for your business.
Cyber liability insurance will not prevent an attack from happening, but it can cover some of the costs that arise after an attack occurs. Cyber liability coverage for small businesses will vary based on your unique needs, but at a minimum, it can help ensure that your company complies with state regulations after a data breach. State regulations generally require companies to notify consumers of a data breach involving
personally identifiable information - these costs are often covered by cyber liability coverage. Basic policies may also cover indemnification for legal fees and costs for recovering data and restoring damaged systems.
How do I get E-Commerce Insurance?
Don't be fooled into thinking that your e-commerce business is immune to risk. Every small business owner - including online sellers - should consider obtaining insurance to protect the small business against the cost of claims and damage.
Let
AmTrust Financial help you find insurance policies and coverage limits to help keep your e-commerce business safeguarded. We work alongside you to find an insurance package suited to your needs. To learn more about the top-rated e-commerce insurance products that are available through AmTrust
contact us today.